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Answer: There is 680% increase for the fund.
Step-by-step explanation:
Since we have given that
Number of shares they purchased = 1000
Cost of per share at the time of their marriage = $10
So, Amount of fund will be
Cost per share after 30 years = $78
So, Amount of fund will be
Percentage of increase for the fund will be given as
Hence, there is 680% increase for the fund.
Answer:
And if we find the individual probability we got:
And replacing we got:
Step-by-step explanation:
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Solution to the problem
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
And we want to find this probability:
And we can use the complement rule and we got:
And if we find the individual probability we got:
And replacing we got: